1866 US Coins: Values & Mintages

US coinage in 1866

The five-cent nickel arrived in 1866 with the Shield design. The motto "In God We Trust" was added to silver dollars, half dollars, quarters and the larger gold coins.

New this year: the Shield Nickel.

How many coins were made in 1866

Counting the circulation issues on this page, US mints struck 29,892,525 coins dated 1866 across 14 issues. That is 41% fewer than in 1865 (50,685,686). In 1867 the figure rose to 45,666,375.

It was the smallest year since 1861.

By mint: Philadelphia 28,555,525 (96%, down from 49,674,686) and San Francisco 1,337,000 (4.5%, up from 1,011,000).

Those coins held about 671,301 troy ounces of pure silver and 344 troy ounces of gold.

1866 coins by denomination

Cents: 9,826,500 struck in 1 circulation issue of the Indian Head Cent, down 72% on 1865.

Nickels: 14,742,500 struck in 1 circulation issue of the Shield Nickel.

Dimes: 143,000 struck in 2 circulation issues of the Seated Liberty Dime, down 23% on 1865. The scarcest is the 1866 (8,000) and the most plentiful the 1866-S (135,000).

Quarters: 44,800 struck in 2 circulation issues of the Seated Liberty Quarter, down 55% on 1865. The scarcest is the 1866, With Motto (16,800) and the most plentiful the 1866-S, With Motto (28,000).

Half Dollars: 1,799,625 struck in 3 circulation issues of the Seated Liberty Half Dollar, up 52% on 1865. The scarcest is the 1866-S, No Motto (60,000) and the most plentiful the 1866-S, With Motto (994,000).

Gold Coins: 7,100 struck in 1 circulation issue of the Gold Dollar, up 92% on 1865.

Odd Denominations: 3,329,000 struck in 4 circulation issues of the Two-Cent Piece, Three-Cent Silver and Seated Liberty Half Dime, down 76% on 1865. The scarcest is the 1866 (10,000) and the most plentiful the 1866 (3,177,000).

Every 1866 circulation issue at a glance

• 1866 Gold Dollar: 7,100 struck, 30th lowest of 75 in the series, up from 3,700 in 1865.
• 1866 Seated Liberty Dime: 8,000 struck, 2nd lowest of 116 in the series, down from 10,000 in 1865.
• 1866 Seated Liberty Half Dime: 10,000 struck, 2nd lowest of 70 in the series, down from 13,000 in 1865.
• 1866 Seated Liberty Quarter, With Motto: 16,800 struck, 17th lowest of 108 in the series, down from 58,800 in 1865.
• 1866 Three-Cent Silver: 22,000 struck, 10th lowest of 23 in the series, up from 8,000 in 1865.
• 1866-S Seated Liberty Quarter, With Motto: 28,000 struck, 21st lowest of 108 in the series, down from 41,000 in 1865.
• 1866-S Seated Liberty Half Dollar, No Motto: 60,000 struck, 18th lowest of 116 in the series, down from 675,000 in 1865.
• 1866-S Seated Liberty Half Dime: 120,000 struck, 12th lowest of 70 in the series, similar to 1865.
• 1866-S Seated Liberty Dime: 135,000 struck, 24th lowest of 116 in the series, down from 175,000 in 1865.
• 1866 Seated Liberty Half Dollar, With Motto: 745,625 struck, 58th lowest of 116 in the series, up from 511,900 in 1865.
• 1866-S Seated Liberty Half Dollar, With Motto: 994,000 struck, more than 59% of the series' 116 issues, up from 675,000 in 1865.
• 1866 Two-Cent Piece: 3,177,000 struck, more than 75% of the series' 9 issues, down from 13,640,000 in 1865.

The 2 more plentiful issues are listed in the tables below.

Indian Head Cent: Bronze cents and the L on the ribbon

The popularity of thin bronze Civil War tokens showed that people would accept a lighter cent. The Act of April 22, 1864 changed the cent to bronze, cutting the weight from 4.67 to 3.11 grams. The Mint struck both copper-nickel and bronze cents that year. Later in 1864 Longacre added his initial L to the ribbon behind the neck. The 1864 bronze with L is a scarce variety.

Once the war ended, minor coins flooded back into circulation. An 1871 law let banks redeem surplus cents. Production fell from about 10 million in 1868 to just over 5 million in 1870 and about 4 million in 1871 and 1872, which makes those three dates scarce today. Bronze coins of this era tone from red to brown. Survivors with full diamonds and a complete LIBERTY are prized.

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Shield Nickel: Rays on the reverse

Congress authorized the copper-nickel five-cent piece on May 16, 1866, partly to replace the small paper notes issued during the Civil War and partly at the urging of nickel interests led by Joseph Wharton. James Longacre's shield design was struck in large numbers, with 14.7 million made in 1866. The reverse showed a large 5 inside a ring of 13 stars with rays between them.

The rays made the hard alloy even more difficult to strike, so early in 1867 they were removed. Only about 2 million 1867 nickels have rays, which makes that variety scarce next to the 28.9 million without rays. Coins from both years often show die cracks, weak stars and soft shield lines. Repunched dates turn up regularly. Survivors are usually gray to light tan and often show wear on the shield and the top of the cross.

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Seated Liberty Quarter: IN GOD WE TRUST joins the reverse

In 1866 the motto IN GOD WE TRUST was added on a ribbon above the eagle. Silver still did not circulate in the East, so Philadelphia struck only 16,800 business strikes that year and similar small numbers through 1869. San Francisco carried more of the load, but even its mintages stayed below 100,000 in every year of the period.

The Carson City Mint in Nevada struck its first quarters in 1870. The 1870-CC (8,340 struck) and the 1871-CC (10,890) are among the toughest dates in the whole Seated series. The 1872-CC, with 22,850 made, is scarce as well. Survivors from this period are often well worn, cleaned or damaged because many circulated for years in the mining West. Philadelphia proofs of 600 to 1,000 a year are the usual way collectors fill these dates in high grade.

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Seated Liberty Half Dollar: Motto above the eagle and Carson City

IN GOD WE TRUST was added on a scroll above the eagle in 1866. San Francisco struck both the old and new reverses that year. The 1866-S without motto, with 60,000 made, is scarce. Philadelphia mintages ran from about 418,000 to 1.2 million a year, while San Francisco often struck more than one million.

The Carson City Mint struck its first halves in 1870. The 1870-CC, with 54,617 made, is the key. Carson City halves of 1871 and 1872 are scarce in all grades. Many Nevada-struck halves circulated in the mining West and survive heavily worn, scratched or cleaned. Mint state CC halves of these years are major rarities, so most collectors settle for a sound Fine or Very Fine coin.

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Gold Dollar: Wartime suspension and tiny mintages

Banks stopped paying out gold at the end of 1861 and gold coins disappeared from eastern circulation. After a large 1862 mintage of 1,361,355, Philadelphia struck only a few thousand gold dollars a year through most of the 1860s and 1870s. Gold remained at a premium over paper money until specie payments resumed at the start of 1879.

Exceptions were 1873 and 1874, when production rose to 125,100 and 198,800. The 1873 comes with closed 3 and open 3 dates. The 1875, with only 400 business strikes and 20 proofs, is the lowest mintage of the type. The 1870-S, 3,000 struck, is the only San Francisco gold dollar of the period. Survivors from these years are scarce in any grade.

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Two-Cent Piece: Civil War coins with a new motto

The Coinage Act of April 22, 1864 created the bronze two-cent piece during the Civil War coin shortage, when silver and even cents had vanished from circulation. James B. Longacre, chief engraver of the Mint, created the shield design. It was the first United States coin to carry IN GOD WE TRUST, placed on a scroll above the shield. The same law changed the cent from copper-nickel to bronze.

Philadelphia struck 19,822,500 in 1864 and 13,640,000 in 1865. The 1864 comes with a small motto and a large motto. The small motto is much the scarcer of the two. The 1866 mintage fell to 3,177,000 as copper-nickel three-cent pieces arrived. Survivors are usually brown. Many show spots, verdigris or cleaning, while fully red coins are rare.

The two-cent piece appeared at the height of the Civil War, when cents were hoarded and the Treasury wanted a small coin that would circulate. Nearly 20 million were struck in 1864, the largest output of the series, in Small Motto and Large Motto varieties. The Small Motto is much scarcer and is the variety collectors look for first.

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Three-Cent Silver: Hoarding and the proof-only years

When silver was hoarded during the Civil War, the three-cent silver stopped circulating. Philadelphia struck only 21,000 in 1863 and no more than 22,000 a year after that, falling to 1,000 in 1872. The copper-nickel three-cent piece of 1865 took over its role in commerce. Proof sets of these years included the coin.

Proofs were struck each year, often in numbers close to or above the business strikes, so proofs of these dates are easier to find than circulation strikes. The 1873 was made only as a proof with a closed 3, after which the Coinage Act of 1873 ended the denomination. Many business strikes of these years were later melted. Worn examples of the late dates are rare and are sometimes mistaken for impaired proofs.

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Seated Liberty Dime: Civil War rarities from Philadelphia

These five years hold the lowest Philadelphia mintages of the series. With silver hoarded in the East, Philadelphia struck only 14,000 dimes in 1863, 11,000 in 1864, 10,000 in 1865, 8,000 in 1866 and 6,000 in 1867. Silver was not circulating in the East, so there was little call for new dimes there. Every one of those dates is a key and even a worn example is a significant rarity. The 1867, at 6,000, has the smallest business strike mintage of any Seated dime.

In California gold and silver kept circulating through the war, so San Francisco carried the load. It struck between 135,000 and 230,000 dimes each year, with the 1864-S the largest at 230,000. The S coins are scarce but far more available than the Philadelphia issues of the same years. Many have heavy wear from years of use in the West.

Proofs were struck at Philadelphia throughout the war, with 460 in 1863 and 725 in 1866. For 1863 to 1867 the proof is sometimes easier to find than a business strike of the same date. That makes careful attribution important. A proof has mirror fields, sharp squared rims and crisp stars and letters, while a business strike has satiny luster or ordinary wear. Altered dates and removed mint marks are a known risk, so have any Philadelphia dime of these years authenticated.

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Seated Liberty Half Dime: Civil War scarcity and the first San Francisco half dimes

With silver hoarded in the East, Philadelphia struck very few half dimes for circulation. The totals were 18,000 in 1863, 48,000 in 1864, 13,000 in 1865, 10,000 in 1866 and 8,000 in 1867. Every one of these dates is a key and a significant rarity in any grade. The 1867, at 8,000, has the lowest business strike mintage of any regular Seated half dime. Fractional currency notes in denominations as low as three cents did the work these coins would normally have done. Philadelphia also struck proofs each year, from 460 to 725, so a proof is sometimes easier to find than a business strike.

San Francisco struck its first half dimes in 1863, a total of 100,000. Gold and silver still circulated in California during the war, so S coins went straight into use. San Francisco made 90,000 in 1864 and 120,000 a year from 1865 to 1867. These S dates are scarce but much more available than the Philadelphia coins, though most survivors are well worn.

Because the Philadelphia dates are so rare, check any of them carefully. Confirm the date has not been altered and that no mint mark has been removed. Proofs have deep mirror fields and sharp rims. Business strikes have frosty luster or normal wear. For the S coins, look near the bow of the wreath for the small S.

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